Home Depot raises guidance on strong 2Q

Retail Editor 2 -- Home Textiles Today, August 16, 2011

Atlanta - The Home Depot boosted its fiscal year guidance after reporting a 19.4% jump in earnings per share for the second quarter.EPS was 86 cents, with net earnings of $1.4 billion. Sales rose 4.2% to $20.2 billion, and comps increased 3.5%. "Our second-quarter results were driven by a rebound in our seasonal business, storm-related repairs and strength in our core categories," said Frank Blake, chairman and ceo. Home Depot now expects fiscal year EPS from continuing operations to be up approximately 16% to $2.34.